Last year India became the first country to pass CSR (Corporate Social Responsibility) as a law that requires corporates (Net Worth of Rs 500 crore or more; or Turnover of Rs 1000 crore or more; or Net Profit of Rs 5 crore or more) to compulsorily spend 2% of their net profits on social development annually. Recently PM Narendra Modi made 'Make in India' concept as part of government's policy and program to encourage and boost local manufacturing industry and make it a global hub. There are steps that are expected to be taken by the government to promote skill development among the youth to fulfil this mission. According to National Skill Development Corporation (NSDC) the growing skill gap in India is estimated to be more than 250 million workers across various sectors by 2022. NSDC is a public-private partnership (PPP) initiated for skill development. Corporates can support the skill development programs and projects as part of their CSR activities. This collaborative approach will be a win-win for government, businesses and public, as it develops skilled workforce for companies, jobs for the unemployed and thriving economy for the nation. Read on...

According to World Bank, remittances to India i.e. money transfers by Non-Resident Indians (NRIs) employed outside India (about 14 million Indians) topped the chart and were US$ 71 billion in 2013-14. Promoth Manghat, vice president of global operations at UAE Exchange, says 'Remittances from the UAE to developing countries, including India, increased by 8 to 10 per cent between 2013 and 2014.' Transfer operators cite the stregthening of dollar against Asian currencies as one of the main driver for remittances. According to Sudhesh Giriyan, COO at Xpress Money, their top performing markets are India, Pakistan, Bangladesh and Philippines. Read on...

Recent report by IHS, released at World Economic Forum (WEF) at Davos, observed that India's economy is expected to grow faster than that of China's in the next few years. Moreover International Monetary Fund (IMF) also forecasts that India's economy would grow at 6.3% in 2015 and at 6.5% in 2016, overtaking China's projected rate of growth (2014 growth rate- China 7.4%, India 5.8%). Nobel Laureate & economist Paul Krugman while speaking on Indian economy recently commented that, 'The Indian economy has the potential to grow significantly, but a political struggle by the government to implement reforms may pose a challenge.' He further points out, 'The structural transition being attempted by China to become a consumption-driven economy from an investment-driven economy may lead to a "nasty recession". This could throw up opportunities for India, which is in the process of implementing structural reforms.' Read on...

According to report 'Aarogya Bharat 2025' by NATHEALTH and Bain & Company, for sustainable growth India requires investments of US$ 3 trillion for the next 10 years. India's healthcare system is both under-served and under-consumed, threatening the continued economic progress. Shivinder Mohan Singh, President of NATHEALTH, says, 'At 1.3% of the GDP, public spending on healthcare in India is among the lowest across the developing countries and affects the poor and inaccessible rural areas the most.' Bain & Company's Karan Singh points out the need for healthcare spending to go to 6% of the GDP and suggests a required paradigm shift from curative to prevention and wellness. According to NATHEALTH's Founder Chairman, Prathap C. Reddy, to built a healthier India government cannot be the sole provider of health services but private sector has to play an important role to bridge the demand-supply gap. Read on...

India requires substantial finance to fulfill the challenges of providing clean, affordable and reliable supplies of water and energy to its 1.3 billion citizens, and invest in enterprises that will provide livelihoods for an extra 10 million jobseekers every year. Moreover there is also need for level playing field of sustainability standards within the financial system. According to Naina Lal Kidwai, country head for HSBC India, 'For too long, a view has been allowed to take root in India that sustainability and finance are at odds; that taking account of environmental, social and governance (ESG) factors raises costs, reduces returns and impedes development.' To scale up sustainable finance, Federation of Indian Chambers of Commerce and Industry (FICCI) and the UNEP Inquiry have formed an advisory committee of leading financiers, policymakers and civil society representatives to generate practical policy options. Financial innovation is the essential need with mobilization of debt and equity capital markets. Investments in sustainable agriculture, clean energy, efficient buildings, mass transit, smart cities, clean water and waste provides the foundations for a thriving green bonds market. On India's equity markets, the new Infrastructure Investment Trust model offers another vehicle for investors to put money into sustainable infrastructure. Read on...